FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2025

FAIR VALUE MEASUREMENTS

Schedule of company's liabilities that are measured at fair value on a recurring basis

		September 30,		December 31,
Description	Level	2025		2024
Assets:
Cash and marketable securities held in Trust Account	1	$	88,478,622	$	84,565,597
Liabilities:
Warrant liability – Public warrants	2	$	920,000	$	575,767
Warrant liability – Private Placement Warrants	3	$	1,068,000	$	668,390
Convertible Promissory Notes	3	$	4,642,267	$	4,479,738

Schedule of quantitative information regarding level 3 fair value measurements

	September 30, 2025			December 31, 2024
Trading stock price	$	12.11		$	11.66
Public warrants price	$	0.12		$	0.08
Weighted term (in years)		1.55			1.17
Volatility		de minimis			de minimis
Risk-free rate		3.64	%		4.18	%

Schedule of changes in quantitative information regarding level 3 fair value measurements

	Public		Private		Total
	Warrant		Warrant		Warrant
	Liabilities		Liabilities		Liabilities
Fair value as of December 31, 2023	$	—	$	1,165,656	$	1,165,656
Change in fair value		—		(497,266)		(497,266)
Fair value as of December 31, 2024	$	—	$	668,390	$	668,390
Change in fair value		—		(41,830)		(41,830)
Fair value as of March 31, 2025	$	—	$	626,560	$	626,560
Change in fair value		—		352,440		352,440
Fair value as of June 30, 2025	$	—	$	979,000	$	979,000
Change in fair value		—		89,000		89,000
Fair value as of September 30, 2025	$	—	$	1,068,000	$	1,068,000

Convertible Promissory Notes

FAIR VALUE MEASUREMENTS

Schedule of quantitative information regarding level 3 fair value measurements

	September 30, 2025			May 27, 2025			December 31, 2024
Trading stock price	$	12.11		$	11.93		$	11.66
Exercise price	$	11.50		$	11.50		$	11.50
Expected term (in years)		0.69			0.68			0.51
Expected term of warrant conversion (in years)		5.69			5.68			5.51
Volatility		de minimis			de minimis			de minimis
Risk-free rate		3.74 – 3.77	%		4.04 - 4.27	%		4.24	%

Schedule of changes in quantitative information regarding level 3 fair value measurements

Fair value as of December 31, 2023	$	3,676,685
Initial measurement on January 19, 2024		250,000
Initial measurement on July 12, 2024		250,000
Initial measurement on November 6, 2024		250,000
Initial measurement on December 16, 2024		250,000
Change in fair value		(196,947)
Fair value as of December 31, 2024	$	4,479,738
Change in fair value		(4,576)
Fair value as of March 31, 2025	$	4,475,162
Initial measurement on May 27, 2025		250,000
Change in fair value		(77,038)
Fair value as of June 30, 2025	$	4,648,124
Change in fair value		(5,857)
Fair value as of September 30, 2025	$	4,642,267